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of the attention is on china. the north's most influential ally. today on china report, we look at the response from leaders in bejing and what motivates their longstanding relationship with an isolated regime. >> reporter: chinese media were quick to respond to the rocket launch. tv networks ran a news clip using reports by foreign news agencies. but it took a full six hours for the chinese government to issue a formal comment. it was made during the regular press conference of the foreign ministry. >> translator: it's regrettable that north korea went ahead with the launch, despite the international's community close attention. as a member of the united nations, the north has the obligation to respect security council resolutions. >> reporter: china is north korea's neighbor and the most important of its fuel lines, also an economic superpower, since fighting the korean war together, the two countries have maintained close relations. in september, north korea held a briefing in beijing, calling for massive investment in a special economic zone. shape, and the only way it will improve is thro
is on china. the north's most influential ally. today on china report, we look at the response from leaders in bejing and what motivates their longstanding relationship with an isolated regime. >> reporter: chinese media were quick to respond to the rocket launch. tv networks ran a news clip using reports by foreign news agencies. but it took a full six hours for the chinese government to issue a formal comment.ititititititit press conference of the foreign ministry. >> translator: it's regrettable that north korea went ahead with the launch, despite the international's community close attention. as a member of the united nations, the north has the obligation to respect security council resolutions. >> reporter: china is north korea's neighbor and the most important of its fuel lines, also an economic superpower, since fighting the korean war together, the two countries have maintained close relations. in september, north korea held a briefing in beijing, calling for massive investment in a special economic zone. the north's economy is in dire shape, and the only way it will improve is thr
we're really engaging diplomatically with china and other members of united nations security council on tougher resolutions and possibly sanctions. >> making any progress? >> you have to talk to the ambassadors in new york and the sea to figure out what is going on. -- d.c. to figure out what is going on. >> in beijing, what is the view among the leaders you can tell of kim jong-u7n? -- kim jong-un? >> china would like all the parties that are part of this sixth party talks her to get back to the table, to see if we can encourage better behavior from north korea as opposed to imposing sanctions now and trying to coerce north korea into the fold. that is a difference of opinion of strategy. china really believes we ought to be engaged with north korea. united states feels every time we've tried to engage with north korea, they basically turnaround and failed to respond. >> what is the most important thing the chinese leaders want from you every day? >> the want greater cooperation with united states, because the understand how important united states is for their own economy.
of course. so trying to -- china is a much interest in canadian energy and natural resources. we are very much interested in building trust, strategic trust and cooperation with china. and from enable perspective, of course, i'll give you one sort of anecdote. you were referring to this the islands, two months ago i attended the western pacific naval symposium hosted -- and have the opportunity to sit between the deputy commander of the people's liberation army navy, and the commander of the ambassadors japanese maritime self-defense force, a euphemism for the japanese navy. it was at a time when the island was leading on cnn and bbc. i thought as i was sitting between two them there's an opportunity for a canadian to do something extraordinary from an naval diplomatic perspective and put this thing to bed. [laughter] >> how did that go? >> not too well, not too well. [laughter] which is my point. i spoke with the chinese admirals interpreter. i spoke with admiral commander in english, a great conversation. but never was the bridge build or even considered. and i think one of the key issu
and this brings back sweet memories of when china was very isolated during the cold war. in the end, there's a whole new generation of people who have been much more sophisticated understanding, but that i would say it's a very strong autonomic response to the united states beefing up its forces in australia and then they wake up one morning and burma has flipped on them. it was eternal in terms of their faithful allies. these things caused a lot of consternation. so the old fear of diagnostically speaking in china is to fear with sand and travel without. these things happening around them excite them. >> how much does it add to that anxiety is that all? >> is the most problematic relationship now in japan and this is not good. i have to say i think japan probably hasn't played this as well as it might have, but i think on the other hand it would be fair to say also that it serves china's purposes to have something happening outside his orders which can rally people at home. there's a lot of complex things going on in each of these reactions to foreign movements outside. >> which ma
will look at the new communist party of leadership in china and that impact on u.s.- china relations. hosted by the center for strategic and international studies in washington, this is an hour. i'd also like to recognize former ambassador to china jim sasser who's sitting right there, one of my close friends. thank you for coming, senator. glad to see you. well, the panel is a really good one, kurt campbell, assistant secretary of state for east asia and pacific affairs. he became -- came to that job in 2009, previously the ceo and co- founder of the center for a new american security. he was a professor at harvard, associate professor of public policy and international relations at the kennedy school. chris johnson, senior adviser and freeman chair in china studies here at csis. his most important public service, as far as i'm concerned, is he gave me a lot of help in preparing for the presidential debate. and i'll be -- always be grateful for that, chris. he's frequently advised senior white house, cabinet, congressional, military and foreign officials on chinese leadership and on beijing
and partners such as singapore and the philippines and expanding our dialogue in exchanges with china. we are also an handed our presence and capabilities in the region. that includes -- expanding our presence and capabilities in the region. that includes allocating our naval fleet to have a 60/40 split between the pacific and atlantic oceans, increasing army and marine presence in the region. locating our most advanced aircraft in the pacific, including new deployments of f- 22's and the mv22's to japan. and lay the groundwork for the first overseas deployment of the f-35 joint strike fighter. the third element of our strategy is that as we do force projection in the asia-pacific and middle east, we still have to maintain our global leadership and presence by building innovative partnerships and partner capacity across the globe and using these innovative rotational deployment as a way to do exercises and training with other countries, developing their capabilities so they can provide for their own security. in latin america, africa, europe, and elsewhere. the past decade of war has rein
of trade, as well. yes, an ipad in china gets made and it's value point $50. but it's only about $20 of that that goes to china and the rest goes back to the u.s. we'll get into the dynamics of trade, as well, and how we measure it. we'll also be joined by the ilo director general, as well, guy rider. we'll hear from the head of the world intellectual property organization. so it's a big trade day here from geneva on "worldwide exchange." lots of great things to get into. and by the way, 157 members of the wto, shortly to be 158. kazakhstan today should get the approval, all 157 ambassadors are here. they will get approval later this afternoon. so an ever expanding membership base. >> kazakhstan being just the latest. plenty more from ross straight ahead on the program. in the meantime, we want to check in our how markets are doing. so much attention on italy. in particular, you can see the message broadly speaking this morning is in negative, we're seeing about a four to one outpacing decliners versus vapsers here. the stoxx 600 is down abo about .37%. let's take a look across the t
hard currency on the open market. >> and though the soviet empire is a thing of the past, china is echoing the aspirations of its predecessor. >> there's no question that we're going to face a very serious challenge in the years to come, dealing with a rising china that wants to be dominant and hegemonic in its own region, wants to control sea lines of communication, wants to control the south china sea. and we have allies who stand to lose from that and look to us for support. i think that's the likeliest area of actual conflict. >> the pentagon will often say and right now the u.s. spends something like 4, 5, 6 times what china spends on its defense spending. and the big question then becomes what is china's intention? (instrumental music) >> in a national call to arms defense secretary leon panetta warned the threat of a significant cyber attack against america is already here. >> the collective result of these kinds of attacks could be a cyber pearl harbor. >> what are the threats american's face in this century? with the attacks of september 11th, the u.s. has had to comple
. >> very nice. >> all right. aside from that, we'll take a look at upbeat economic news out of china. the purchasing managers index rising to 50.9 in december. highest level since august. the surge also helped speculation the chinese government will take additional steps to support its economy. of the 15 times china's up 3%, since '09, s&p that day is up 13 times. almost every time. despite the futures today, is it a good omen for the markets here? >> look, there was a dichotomy in that government. there were people who were concerned about inflation. and there were people who said, listen, we're not growing fast enough. they do have a lot of levers. if they want to grow, i still -- i've been a bull on china. if they want to do 9%, 10%, they have the ability to do it. all they have to do is have a gigantic sewer infrastructure program. >> that's true. there's going to be an economic war conference held soon. it's believed the government will start to release growth forecast at that conference and perhaps unveil some further stimulus measures or tip their hat in terms of whether they
allegations. >> and we'll be on the floor in beijing where china's leaders just wrapped up a major conference. >>> and japan's prime minister election is calling on the bank of japan to heed the call of the masses. abe is beating the heat on the boj just one day after his party's huge win and two days after the bank's next rate setting meeting. kaori enjoji has the latest for us. how much of a game changer is all this? >> this is a serious game changer. it's a comeback for the dlp and shinzo abe. he has made it clear that the economy and economic recovery is going to be one of the pillars and hallmarks of his second time in office and he's wasting no time in piling on pressure on to the bank of japan who holds, of course, their two-day policy board meeting later on this week. here is what he had to say. >> i have constantly stressed our desire to present a policy accord in raising the inflation target to 2%. i do think it is unusual for monetary policies to come to the forefront during elections, but we have been able to gain much support for this. i hope the bank of japan will take this resu
states, 7% china, 5% india, negative one in europe. in that environment you want to own a portfolio of multinational companies with dividends, global exposure, it will provide as good of a return as anything else when you have bonds and cash paying so low. as long as you understand you're in the seven, 8% environment, portfolio stocks should be part of that. david: let's talk to a guy that says full speed ahead torpedoes. he thinks it will be better than this year was. saying people are confusing pickups for heart attacks in today's market to all these problems are going to seem like nothing when we come to the big gains of next year. you really think that will bear out, and how do you invest with that kinddof optimistic strategy? >> first of all what we have seen with investor sentiment is contradictory to what we've seen with consumer sentiment and business sentiment. when you see negative investor sentiment is not just in the retail side but also the institutional side creating a great potential opportunity for performance. secondly if you take a look at kicking the can down the
history tv on c-span3. >> china's emerging global power and maritime strategy were the focus of a panel discussion at the halifax international security forum. panelists discuss the territorial disputes involving japan in the east china sea, cybersecurity and international diplomacy. this is an hour, ten minutes. >> welcome back, everybody. this session for miscalculation, china and the rise of confusion or confucianism. i'd like to hand over to steve clemens who's moderating this session. .. >> thank you all for joining us. when i was thinking about the title today and thinking about our panel, it occurred to me, and i went online to find a chinese event that is being held right now looking at u.s. grand strategy, canada, japan and india. there are no canadian, japanese americans or canadians on china's panel. don't have any chinese with us today but we should have a lot of fun discussing that our national strategies but involving in the asian pacific region and with china but i want to acknowledge that that voice wasn't with us today. that might give us more room to run. because we do
the results of that in around about 30 minutes. >>> and china and india secretary growth slowed in november. analysts say china and india's nonmanufacturing team expected to improve thanks to a hiring boost in the mainland as well as strong new orders in india. at the same time, china's new leadership, as we pointed out, has laid out some fresh directives. >> these are some pretty sweeping reforms making china's famously inefficient bureaucracy more efficient. it's an effort to "win the confidence and the support of the people" as public backlash rose against the special treatment of politicians. so a new list of dos and don't's for chinese leaders. on the do side, cut down on giving face. the art of extreme flattery or reverence, which results in some very long meetings and speeches. keep them short and cut down on the lavish feasts. he's also encouraging more travel to rural parts of the country where the real problems are. on the don't's side, stop the empty talk. in china, niceties are often more formal and exaggerated than west. another one is don't stop traffic. if you've ever been to
india and china to develop into a completely distinct world civilizations without having much to do with each other for long-term history. let's take that image that you offered of america, this amazingly simple geographic place with all of these natural harbors and rivers that run the right way but that was true for thousands of years and didn't leave to the development to rate civilization and european civilization and began to make powerful use of those the geographical advantages are obvious, so help us think about why it's geography that we should focus on as opposed to the cultural or civilization will aspect. >> that was due to the development of the failing chips which enable the croswell landed voyages, so that development of technology while it is short in distance it did not negate, it made it more important because it opened up a whole new geography and the world trade system cultural and economics flow from the geography because what is culture? it is the accumulated experience of a specific people on may specifically and skate over hundreds of thousands of years that l
daily gain in more than thee years ago china gets ready to chart its new economic plan. domestic demand is strong enough to keep the lid on growth. >>> european markets get a lift from the latest european market data showing the private sector has expanded for the first time since april and signaling europe could avoid a recession in q4. >>> and japan's business sentiment sours in the fourth quarter. this reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. >>> we're going to give you all the latest results from the flash december data for the pmi for the eurozone that we're just getting out. the overall, the deposit is a touch stronger for the month of december. the details show the manufacturing weakened slightly and its services strengthened slightly. they are overall still in negative territory. and we're seeing the euro/dollar respond a little bit to the downside. down about 0.01% trying to fight back into flat on the day. 130.75 is the level there. again, the services pmi is at 47.8. compared with the 47 that was expected. it
has been better in china. offer, that hasn't been enough to move stock. the recent rally we've seen, still a lot of questions as to why exactly it's happening and whether the government can put in some reforms to keep that going. hong kong, aia shares resumed trading today. this is not -- the losses for aii were not too heavy, but the hang seng ending with losses. over in australia, the s&p asx 200 gained some ground, abo about .5%. it was the big miners that gained today. and this brings the aussie market to a 17-month high. we have some minutes out from the research bank of australia. we will see monetarying easing in the form of interest rate cuts last year. it's defying expectations because we are seeing some gains of about .6%. this is despite the rbi, the research bank of india putting rates on hold. as well as the cash research ratio, which many were predicting they would cut. kelly, back to you. >>> okay. as the trading year draw toes a close, we're turning our attention to 2013. there are a number of themes to focus on, pressure on the price of oil, indisexposeble incomes a
counterterrorism, and then the u.s. ambassador to china, gary locke, on the relationship between the two countries. >> our first experience was to come in a different way than every other family up here. probably never happen again in history. and it's interesting because after dad was sworn in, we went and took a picture, photo of the family, behind the oval office desk, and that night we didn't get to move into the white house because nixon had left so quickly, so unexpectedly, they left their daughter and son-in-law, david eisenhower, to pack all their clothes and belongings. it literally took seven or eight days. we had to go back to our little house in alexandria, virginia, suburbia, the neighborhood was surrounded by secret service. we had been living there dad was vice president. and i'll never forget. that night mom is cooking dinner. literally, we're sitting around the dinner table, and mom is cooking dinner, and she looked over at my dad and goes, gerry, something is wrong here. you just became president of the united states and i'm still cooking. >> steve ford, linda johnson robb, and j
of the five nominees have been our customers. i was in china recently on top of one of the towers and there is one of the guys who run our operations in china. all of this was designed using our software. >> so it's architects, the engineers and creative folks in all of these companies. how broad international you've got a portfolio that spans i would imagine not just united states companies. >> as a matter of fact 75% of our business is outside of the united states. if you want to understand it, mostly our revenue and our business is where the gdp is. where there is economic activity, where people are building designing and manufacturing things that's where we are. >> you're also in another area of the economy that is getting a lot of attention manufacturing particularly 3-d printing. we have a number of things that you brought in and people are wondering what the heck is sitting on the table. one of them is a speaker that you printed. it sounds so extraordinary. you had this printed out software, that allowed you to send a file to a printer machine like we would print out a docu
particularly the china pmi numbers and what we've seen from gdp recently that maybe some of the markets key to u.s. exporters may be showing signs of stabilizing, maybe get to growth. so that might mean moderation in the eurozone might ease in the first quarter. but again, this is all dependent on what happens with that ongoing debt crisis and any step back in resolving that would obviously have a knock-on effect to the economy. >> i'm wondering whether germany as we look at -- they're just above sort of recession territory at the moment. i'm wondering whether if they get better growth out of asia, that will offset the weakness that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of th
. we don't want them to be in that position where we can't do anything. >> where is china this china is so big. they could crush north korea. >> north korea gets 90% of their oil from china. if china cutoff the oil it would be in a different situation. but that's their best ally in the region. >> and china doesn't want north korea to end and the minute these people are going to move they are going to china and they don't want anything to do with themment. >> you will have this population that is so depressed they are moving to south korea and china. >> it will be like east-west germany, but with less scat porn. >> it is mostly my fault because it was in the 90s i dated kim-jong-il and it put him in a strange function. >> cash -- strange funk. >> that is the name of his next album. >> he is the sexiest man alive. >> we are missing the big story. in north korea they must have a large supply of ed schulz shows. >> i feel bad for that woman. now that she is international she is going to kim gung u.n's. >>> what are the perks of being pretty? first, if you have invisible camo, i wish we h
. china state picc group raising more than $3 billion. it's the territory's biggest ipo in into years. still to come, didn't have to price it toward the bottom of the indicative range, maybe a sign that the appetite from the listings remains week. and managing liquidities also a priority. this week the pboc switched back to pumping money into the banking system after withdrawing more than $40 billion over the last month. reports suggest possible $1.8 billion is a moderate amount compared to what the pboc is used to putting in. andrew, very strong session yesterday for shanghai. flat today. after a period of underperformance, will it turn around or not going into 2013? >> well, i think in the recent couple of weeks actually, we're seeing quite positive economic data coming out of china. pmi is improving. and consumer sentiment is the highest. and for the past five months. but this have not translated into a more robust market. this is because for the past two quarters, there is all bad news. so there was kind of negative feedback loops that caused the market to be oversold. and then it
.s. has slapped duties on wind turbine towers on china on price its says were unfairly cheap. this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of con
, with russia and china, containment when it came to russia was countering their expansive capabilities. >> rose: right. >> our own -- when it came to their nuclear capability we were talking about deterrence. >> rose: right. >> and so i think first we want to contain iranian influence in the region, but i think the question that people are -- that what the president is really addressing is, or would we be content with deterrence? >> right. >> and there i think the difference in the ayatollahs and their religious, their they cratic approach to the world, their threats to destroy israel make them a more worrisome, significantly more worrisome possess sorry of nuclear weapons than other nuclear states. >> rose: because they have a different decision al type structure. >> yes. >> rose: from russia, and the soviet union from going into europe once again, deterrence is mutually assured destruction. and so then, does the question of value and life, different because of a culture that can produce suicide bombers mean that there -- means that will not work in the end or do you say no nationable and the
.s. in general is looking positive. and the u.s. is creating a lot more jobs. china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the e
think the world will look like. it's fascinating. it shows china on the rise, the west in decline and china overtaking the united states in size of economy by the year 2030. here are the key findings of the new intel report. it's interesting reading. a majority of the world's population by 2030 will be out of poverty for the first time in world history. there will be wars over food and water and natural resores. populations will continue to rise and there will be recurring global economic crises but when you think about this, you think about how far we're going here. you've got asia, china in particular will be dominant. it will be stronger than its been anytime since middleages. there will be no more pax americana as its known. china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you som
a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversin
business brief. a new report says china will have the world's largest economy by 2030. the national intelligence council global trends report takes into account fax tores like globalization and environment. europe, japan and russia are expected to continue declining economically. >>> standard charter reached at 327 dal million settlement with u.s. regulators for hiding the identity of iranian customers involved in dollar clearing transactions. the nearly three-year-investigation discovered criminal activity dating back to 2001. >>> boeing finalized a order for turkish airlines for 15, 777 extended range planes. the largest deal by value in turkish airline history. melissa: so is global warming to blame for hurricane sandy, right? former vice president al gore thinks so and blames president obama for not doing enough to fix it. >> it is causing these extreme weather events. dirty energy causes dirty weather. and we have to come to our senses and do something about it. i deeply respect our president. i'm grateful for the steps that he has taken but we can not have four more years of m
'm with the world journal. could you address growing chinese assertiveness in south china sea and east china sea? and given china just announced they will intercept the ship's that go into territorial waters. so are you going to participate in upcoming defense talks with chinese? and what message do you want to tell them? thank you. >> well, thank you for that question. of course the issues that are being placed today in a south china sea and other areas in the north and central, east asia, i think are quite complicated because of the nature of the territorial disputes, some of them historic, some of them now driven by the need for access to resources in those areas, and that's i think to some degree has motivated some of the activities that you see, seeing there. the u.s. position as you know is that we don't take sides on territorial disputes. there's many of those around the globe, not just in the south china sea. but we do want them resolve peacefully, without coercion. and that we call on all the parties there, including the chinese, to ensure that as they approach these problems that they
't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
'm with the "world journal" could you address the growing chinese assertivenesses the south china sea and the east china sea -- the foreign ships are going territorial waters. so are you going participate in the coming events? and what can that message -- [inaudible] thank you. >> well, thank you for that question. of course, the issues that are being faced today in the south china sea and other areas in the north and central east asia, i think are complicated because of the nature of the territorial disputes. some of them historic, some of them now driven by the need for access to resources in those areas, and i think, to some degree has motivated some of the activities you see seeing there. the u.s. position, as you know, we don't take sides on territorial dispute. there's many of those around the globe not just around the south china sea. we want them resolved peacefully, without coerce. and that we call on all the parties there including the chinese to ensure that as the approach the problems they do so in a way that avoids con flict within that avoids miscalculation, that using the vehicles a
, a man entered a school in the province in china, obviously, mentally disturbed, he tried to kill as many children as he could. but all he had access to was a knife. the result, despite many injured, not one child died. the problems that for deuproduc newtown mas ker. you find my column on cnn.com/fareed. let's get started. >>> so, let's get right to it. a conversation about the real economic problems this country faces on my right and on their right glen hubbard the former chief economic adviser of cheney campaign. on my left, peter orzack, obama former budget director and sort of in the middle, the economist, economics editor and kristen editor of reuters digital. i promised we were going to get past the cliff. but i have to ask a few questions about it. you don't think it's that big of a deal if we go over the cliff. >> i don't think it's that big of a deal if we get to january 3rd or january 4th and we don't have an agreement because we'll have one very soon after. if we did nothing for months, it would be disastrous. not only the combination of tax increases and spending cuts push th
.n. security resolutions. he also talked about china's decision to the aircraft carrier in the obama administration shifted À la terry resources for the pacific region. this is a half-hour. >> well, good morning and allow hot. i am glad to be here to talk to you about the pacific command, where we are today to where we see ourselves heading in the future. since the last time i was here, we continue to move forward on the rebalanced initiative after as directed by president obama. the rebalanced rows on the strengths of the entire u.s. government, including policy, diplomacy, trade and of course security and that the area i work in. for me, the rebalanced has been and continues to be the strength of the relationships, adjusting our military posture and presents and employ new capacities to ensure we continue to effectively and efficiently contribute to the stability of the asia-pacific as we protect u.s. national interests. of course the keys to success of the innovative access agreement, greatly increased exercises, rotational presence increases come efficient force posture in yeste
in the province in china, obviously, mentally disturbed, he tried to kill as many children as he could. but all he had access to was a knife. the result, despite many injured, not one child died. the problems that produce the newtown mas ker. are not complex nor are the solutions. we do not lack for answers. what we lack in america today is courage. for more on this take a look at my "washington post" column. you'll find it on cnn.com/fareed. let's get started. >>> so, let's get right to it. a conversation about the real economic problems this country faces. on my right and on the right, glen hubbard, the former chief economic adviser of the romney campaign and dean of the business school. on my left, peter orszag, obama former budget director and sort of in the middle, zanny minton beddoes and chrystia freeland, be editor of routers digital. i promised we were going to get past the cliff. but i have to ask a few questions about it. just this. you don't think it's that big of a deal if we go over the cliff. >> i don't think it's that big of a deal if we get to january 3rd or january 4th and we don
in the chinese culture i wanted to write about china. i wanted to find out more about myself because of i was raised in the bay area and because i didn't know culturally a lot of things i wanted to know. i knew i wasn't going to write about myself and knew that i was not going to write about my family. but i wanted to write about an aspect about china and women. those were the 2 things i knew when i began the first book. i was fortunate enough to it stumble upon the silk working women which gave me everything i wanted. it gave me the culture. it gave me a sense of what it meant to be a female chinese women in that time and a sense of empowerment on what they had done. regardless of what they understood they were doing at the time. they didn't know it was a culture that was earning money and living independent of husbands and family that was doing everything against what it meant to be in the chinese culture. i hadn't heard about that and it was perfect. it was exactly what i was looking for. i can go off and preach about the fact they think so many of us asian american authors and asian a
experienced a return migration to hong kong following its reunification with china in 1997. ley: first of all, people realized that the political situation was not as serious as they anticipated. and secondly, not many of them have been able to make significant money here and have gone back and renewed old businesses or opened new businesses in hong kong. narrator: david ho's construction company now looks back on its past achievements. ho left a sagging residential real estate market to start an internet company. links with asia, while strong, are changing throughout the city and the region. ley: part of the story, of course, where a lot of the raw materials is thefrom british columbia whii are exported. narrator: and even though the u.s. economy slumped its low interest rates have helped vault the u.s. back to its traditional role as b.c.'s largest trading partner. the major issue here is the lumber industry and u.s. house building, so that the b.c. lumber industry follows very closely the cycles of american home building. narrator: in vancouver itself, there is less new construction, and t
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after lawmakers tried most of sunday to avoid a fiscal cliff. proposals moved back and forth including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. >> the sticking point appears to be a willingness, and interest or fra
to send jobs to china and india but almost as if obama wants to do that. at least if w went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. ifou drill down on the details, as soon as i saw 800 billion in new x revenue, my immediate question did they give on the point of marginal rat d from the language it doesn't look like. more a tax code basically closes loopholes. they employ all the euphemisms to say you will get rid of deductions. sounds like that is where the 800 billion in new revenue isoming from. they didn't give on marginal rates at all. >> that is good news but only good news in the nse we're not traveling as fast in the wrong direction. you're talking about giving more money to the least competent pele in america, the politicians in washington. you're talking about giving them the extra money so they could have bigger government. the fact that they're taking that money frommus in a less bad way i suppose that is good
at the new leadership in china and think they will change the way china is -- >> well, there a new generation,i've met some of them. but the question -- i think they face enormous questions about their own internal political system i hope that there's a real international opportunity to nationalize their currency. instead of that being a threat it's an opportunity for london as a financial center to be the place where ewan trading takes place and, in fa the la cole o months r the first time in our history a chinese bank issues and rnb bond outside china and hong kong so that's because of a lot of hard work in the city of london and with the british government to make britain a place where this new activity takes place. it's a good example of us actually not do so powered by rolls royce engines and airbus planes. the that's a bit anglocentric but there are going to be oductsnd service which is people and theseountriesill want for the first time in their families histories and there's a real opportunity for western businesses. >> rose: the larger middle-class, the emerging nations for anybody w
be lumped in with tech. at times producing too much. at times koufrnts like china cause a glut in the system. future earnings per share get crushed. i listen closely on these commodity calls to get a sense whether inventory's building anywhere in the system because if it is i can tell if the gross margins are coming down and i've got to get you out of those stocks quicker than i do. aluminum, steel, copper. i've got to work faster. don't you believe for one moment that it's just the commodity producers that are affected by these gross margins issues. i listen to every major pharmaceutical call for you and i hear about generic competition and what it might mean for future earnings. a drug company with a patent cliff meaning its drugs are coming off pat sxent it will plummet in prees is one that scares me and i tell you to go out because i think it's going to trade as a very low multiple to future earnings even if it traded at a high one in the past. nail stock gets out of that i've got to keep you out of it. very few are immune from this. i steer clear of them as best as i can until everyone
obviously focus on is china. in september, they approved infrastructure projects. love the way the stocking is acting the last couple of days. dagen: you are bullish on the global economy. charles: for a while now. connell: you are not worried about china athol? charles: i think china is going to continue to be on a roll. i am also impressed with brazil, indonesia and turkey. the rest of the world really doing extraordinarily well. connell: we like when you go global on us, charles. what do you use, google maps or apple? charles: stuart varney is probably better than me when it comes to these smart phones. connell: i do remember when you got away from the flip phone. charles: that is only because i left it in the green room. i heard someone from the smithsonian came up. dagen: charles, thank you so much. connell: let's go to this google graphic story. it is a very popular app. let's put it that way. we will talk about that coming up. more from washington, the house speaker ready to put through his own legislation. >> our hope continues to be to reach an agreement with the president what we
some money to fix it. >> number five, china. is china slowing or is china leading the world? we do know that china will be the biggest economy in the world by 2020, for sure by 2030. >> china. >> china. >> china. >> china. >> china. >> china also getting more than a few mentions during the presidential campaign, probably because it's pretty clear that china is both a competitor and a partner. >> number four, europe. the european union was fractured by too much debt and the austerity plans to fix it. that saga is far from over. number three, the housing market. finally, finally bottomed out. the combination of low home prices and continued record low mortgage rates set off a building and buying spree. well-healed investors began buying entire neighborhoods, but first-time buyers were also able to get a home of their own for the first time in years. as long as they had a hefty down payment. >> number two. cnn projects that barack obama will be re-elected president of the united states. >> the election. more than just about obama and romney, it was about socialism and capitalism, about spe
made there debut in china, but to a been there done that response. take a look at metal as we head to break. ♪ [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it just common sense. from td ameritrade. it just common sense. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. ♪ lori: that dow is down. let's get a more in-depth check of the markets with nicole petallides on the fl
that that causes, particularly in an era where rising demand for petroleum in china and india and elsewhere is creating potential conflict for these resources, then you have to recognize that transportation has to be diversified away from petroleum where the prices are set on the world market. canada and norway have been net petroleum exporters, but they pay in those countries the same market price for a gallon of gasoline as we do. so you must diversify, and that includes electrification of short-haul transportation, light-duty trucks and vehicles, and the adoption of natural gas either in its lick if i quide or compressed forms for heavy-duty vehicles and over the road vehicles. but taken as a whole if the recommendations of the eslc are adopted, the united states has the potential to reduce our dependence on imported petroleum and thereby reduce our national security risk to improve our balance of payments and about half of our balance of payments deficit remains petroleum, and to increase our g.d.p. by the maximization of these activities in the united states rather than exporting our d
to pyongyang. press articles hail the fact that china in anticipation of the recent launch had begun inspecting cargo on north korean ships in search of contraband. the question this raises is why has chi gnat not been inspecting north korean ships since 2006 as called for in a u.n. resolution, reinforced by another resolution in 2009. if u.n. member states would only enforce the sanctions currently on the books, north korea would be unable to ignore the swer national community and the civilized world. the time for coordinated international action is now. the time, in fact, is long overdue. with that, mr. speakering i reserve the balance of our time. the speaker pro tempore: the squom from florida reserves. the gentleman from california, mr. berman is recognized. mr. berman: thank you, mr. speaker. i rise in strong support of h.con.res. 145 as amended and yield myself such time as i may consume. sproy the gentleman is recognized. mr. berman: i would like to thank the sponsor of this legislation, ms. ros-lehtinen, for her leadership on this issue and her work in addressing the north korean threa
, calling it a violation of u.n. security council resolutions. and china, north korea's long-time ally, also expressed regret launch calling on the state to abide by u.n. resolutions. now u.n. security council diplomats have also set up an emergency meeting today at the request of the u.s. and japan. back to you. >> all right. thanks for that. >>> the senior fellow at the school of international studies at the technological university. thanks for joining us. what does this test do today? what's the impact on regional securit security? >> short term, i don't think the impact is going to be particularly severe. in some ways it's been priced in. and for once, north korea's rocket actually did what it was supposed to do which is fly south and not pass over any territory. so in that sense, the reaction can be contained. on the other hand, it caught people by surprise. and i think there will be questions ask the about how could the intelligence -- how good the intelligence was in the u.s. and south korea in failing to pick this up. >> how significant is it that this launch appears to be successful
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